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JK and Ceat Join Apollo in Indian Price Cuts

Following news that Apollo has cut prices across the board in line with the four per cent reduction in India’s Central VAT rate, Ceat and JK Tyre have announced similar cuts of 3.6 and 3 per cent respectively on the average price of their products.

Apollo’s chairman, Onkar Kanwar wrote in a statement, following yesterday’s announcement on India’s cenvat, “We will be passing on this reduction to our customers, strengthening the measures that are being taken at a federal level.

“We do hope this, and other measures together, will boost production and consumer spending,” he concluded. JK’s director, AS Mehta voiced similar hopes: “Once the end user is benefited, it should benefit the entire industry.”

9th December 2008/by Tyrepress Editors

Lockout Declared at Factory Outsourced to Apollo Tyres

Apollo Tyres gave word on December 6 that a plant owned by PTL Enterprises that produces tyres exclusively for Apollo entered a lockout situation as of 2am December 6. Tension between workers and employers at the Kalamassery based factory, in India’s Kerala state, has been uneasy for some time. According to Apollo, for the past few months “workmen have been resisting management efforts to increase efficiency and bring down costs, during these times of economic stress and demand slowdown.”

8th December 2008/by Tyrepress Editors

India Restricting the Importation of Truck/Bus Radials

Imported bus and truck radial tyres have been categorised as a restricted item by India’s Director General of Foreign Trade (DGFT). News of this action was given in a DGFT notification dated November 24, 2008. Items restricted by the DGFT generally can only be imported into India via the obtaining of an appropriate license.

8th December 2008/by Tyrepress Editors

Apollo Cuts Prices

Leading Indian tyre maker, Apollo has announced that it has cut its prices across its product range by around four per cent. India has reduced its Cenvat (Central VAT) by the same figure on 7 December. Apollo’s price cut is effective as of 1 December.

8th December 2008/by Tyrepress Editors

Ceat breaks ground on radial plant in India

Ceat Ltd. has broken ground on a £95 million radial tyre factory in the Indian state of Gujarat. The new factory is expected to eventually produce up to 500 tonnes of passenger, light and medium truck tyres a day, with as much as 40 per cent of production earmarked for export. According to Ceat, the factory will be constructed in three phases, with the first of these entering production in June 2010. Daily capacity at this time will be in the area of 100 to 150 tonnes.

8th December 2008/by Tyrepress Editors

Lanxess, Tokyo Zairyo Form Chinese Sales Alliance

Special chemicals group Lanxess AG has announced the formation of an alliance with Japan-based Tokyo Zairyo to sell rubber chemicals to Japanese companies engaged in the industrial rubber product sector within China. This cooperative agreement took effect on December 1, and the German company expects that the partnership will also help its sales in Japan and other Asian countries.

5th December 2008/by Tyrepress Editors

Bridgestone Concludes Anti-Vibration Rubber JV Agreement

Bridgestone has concluded an agreement with India’s Sundaram Industries to establish a joint venture to produce anti-vibration rubber for use in vehicles. The Tamil Nadu based company is a member of India’s Prominent TVS Group, and a leader in the field of anti-vibration rubber in that country. Bridgestone first concluded a technical assistance agreement in anti-vibration rubber for automobiles business with Sundaram Industries in 1996, and the two companies have built a close relationship over the years. Bridgestone believes the joint venture will enable the production and sale of high-quality products boasting technical superiority at a competitive cost in the expanding Indian market, and lead to an enhanced global supply chain.

4th December 2008/by Tyrepress Editors

Government Can’t Intervene in Dunlop India Crisis

The labour minister in the Indian State of West Bengal has admitted there is not much the state government can do to resolve the problems between Dunlop India and union groups. This disclosure, reports the Times of India, came after the minister received a letter from company representatives explaining their decision to suspend production.

Mr. Mrinal Banerjee, the labour minister, said he would meet with union leaders on December 2. “We will talk separately with unions and the management and then plan a tripartite meeting,” he said. “But this is all we can do. For, this is not a sick company and the management is simply saying that it has failed to run the factory.”

2nd December 2008/by Tyrepress Editors

Stamford Warning Q2 Loss

Stamford Tyres of Singapore has told Asian news sources that it expects to record a loss in its second quarter ending 31 October, 2008. The company said that the losses were a result of currencies in Australia, South Africa, Indonesia and India weakening against the American dollar in October. It says that the losses are not related to speculative hedging instruments. The firm still expects to post a profit for the first half of its financial year.

2nd December 2008/by Tyrepress Editors

G8 International FZE – Trading Partners

We have been hearing a lot about the G8 group of countries recently, but this article is concerned with another G8 – G8 International FZE, a trading company established in the Sharjah free trade zone of the UAE.

Originally, the purpose of G8 was to procure various raw materials for the automobile tyre and tube industry in India and other parts of the world, but the scope of the business has expanded somewhat. As well as offering a range of synthetic and natural rubber, sourced mainly from Russia and India, G8’s products include five types of carbon black, chemicals used in tyre manufacturing, such as zinc oxide, sulphur and stearic acid among others and a range of tube valves. G8 also trades in metals, minerals (rock phosphate), fertilisers and commodities such as sugar.

1st December 2008/by Tyrepress Editors

Lockout at Dunlop India Plant Declared

Dunlop India plans to suspend production at its Sahaganj facility and idle its workers on an Rs 2,000 (£30) a month retainer have run into complications, resulting in the company declaring a lockout at the plant on November 30. Workers have refused to sign an agreement accepting a suspension of production and the monthly payment, and on the morning of November 30 staged a demonstration against the company’s decision.

1st December 2008/by Tyrepress Editors

Analysis of Indian Tyre Industry Published

The Indian tyre industry is around eighty years old, but over the past decade has seen significant growth and has played a major role in the growth of the Indian automotive industry. The total value of industry sales in 2006 and 2007 was Rs 190 billion (£2.49 billion) and its export value was Rs 26 billion (£341.18 million).

To give industry participants and observers a greater insight into the Indian tyre market, Icfai Books, a division of Icfai University in Hyderabad, India, has published a reference book titled “Tyre Industry in India – Issues and Outlooks”. This publication contains information on numerous issues including the evolution and growth of the Indian tyre industry, directional trends, SWOT analysis and the industry’s competitiveness. Separate chapters are dedicated to all the major Indian based manufacturers.

1st December 2008/by Tyrepress Editors

Dunlop Zimbabwe Permitted to Sell in Forex

The Reserve Bank of Zimbabwe has granted Dunlop Zimbabwe the licence required for companies in the country to sell products using foreign currencies, according to the Chronicle newspaper.

The paper quotes the firm’s Southern regional manager Dumisani Ndlovu, who stated, “the inspection was done by the RBZ on 25 November to check whether the ultra violet money detection machine was in place, the invoicing, security, computer network and warehousing. The team was satisfied and Dunlop was given permission to sell in forex.” He concluded that the licence would allow the manufacturer to import more raw materials, which would make an increase in production capacity possible, “thereby improving the company’s viability and safeguarding the company’s employment base. In addition, the more we sell in forex, the more forex that is made available to the RBZ to finance crucial national programmes in the country,” he stated.

28th November 2008/by Tyrepress Editors

Dunlop India Chairman Issues Consolatory Media Brief

PK Ruia, the chairman of Dunlop India has told national media sources that the situation at the company’s Sahagunj plant, where work remains under suspension, is “under control.” The factory has been closed since Tuesday 18 November, when staff members were told to go home with an allowance on 2,000 rupees a month. The company now states that talks with banks to negotiate the necessary working capital to reopen are “at an advanced stage”, and that the factory expects to reopen in between 15 and 90 days’ time.

25th November 2008/by Tyrepress Editors

Sales Tax Exemption, Productivity Agreement Sought By Dunlop India

Pawan Kumar Ruia claims he has no intention of closing down Dunlop operations in India. Before activities can resume at the company’s Sahaganj factory, however, he wants the West Bengal government to arrange sales tax exemption and an agreement with employees assuring an increase in productivity. Production stopped at the factory on November 17.

24th November 2008/by Tyrepress Editors